Kaman subsidiary acquires Industrial Supply Corporation
Kaman Industrial Technologies Corporation recently completed its acquisition of Richmond, VA-based Industrial Supply Corporation
Kaman Corporation recently announced that its subsidiary, Kaman Industrial Technologies Corporation , completed its acquisition of Industrial Supply Corporation of Richmond, VA, on March 31. ISC is now a wholly owned subsidiary of KIT.
Founded in 1933, ISC is a distributor of power transmission, fluid power, material handling and industrial MRO supply products to the machinery, electronics, pharmaceutical, rubber, chemicals and food processing markets, among others. In addition to its Richmond facility, ISC has branches located in Norfolk, Roanoke and Waynesboro, VA, and in Wilson and High Point, NC. It has annual sales of approximately $55 million.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey